MONTREAL — Foodtastic Inc. has acquired Enoteca Monza Pizzeria Restaurants, a growing, Montreal-based full-service Italian-restaurant concept with a state-of-the-art food commissary.
“We’re excited to add Monza to our portfolio of leading restaurants,” says Peter Mammas, president and CEO of Foodtastic. “This acquisition of a home-grown Quebec business is consistent with our strategy of acquiring brands with growth potential that complement our existing brand portfolio.”
Foodtastic Inc. has plans to grow the Monza brand immediately, with four new units set to open in the Montreal area in 2019 and locations in Quebec City and Outaouais region slated for 2020. “The Monza acquisition will leverage our marketing, purchasing and operational systems to better serve our existing franchisees,” says Mammas.
“We’ve had a great run and an incredible experience building our restaurants and commissary over the last nine years,” says Michael Gutfeld, co-founder of Foursome Restaurant Group (parent company of Enoteca Monza Pizzeria Moderna). “We’re extremely proud of the brand we built and the void we filled in the upscale-casual Italian-food market. We’re thankful for what became a loyal clientele following and trust Foodtastic will apply its industry knowledge and expertise to this great brand and take it to the next level of growth and expansion.”
Monza is the first of several expected acquisitions financed by a recently announced $47-million investment in Foodtastic.